WTF, Why are people leaving all this stuff behind?

[MadCat]

Originally Posted by stuveltje

question, dont the usa have a law to protect those people, we in holland have several laws for that, even the bank will take your home, you will get help also, most of the time, these people end with no debts at all and a new home, well in our country that is.

Nope, the USA doesn't have WW, WAO, bijstand, etc. there's no social security at all, as far as I remember. So if your house gets taken, you're up that fabled creek without a paddle, because the only help you can get is either from friends or relatives willing to put you up until you get back on your feet.

Wait for this stuff to kick off in Holland as well though, given that Fortis had to get their asses bailed out to the tune of 4 billion, the AEX taking a plunge... shitty situation.

[Useless]

Originally Posted by MadCat

Nope, the USA doesn't have WW, WAO, bijstand, etc. there's no social security at all, as far as I remember.

The U.S. does have Social Security, but it doesn't amount to much and doesn't kick in until you apply for it at retirement age.

There is a growing Reverse Mortgage program for homeowners over 65. My parents applied for a reverse mortgage, but, due to the high interest rate, penalties and missed payments, they owe too much on the house for the bank to go forward with it. (The home must appraise for certain percentage over what is owed.) If that would had gone through, they could have remained at their home indefinitely without ever having to make another payment. The Reverse Mortgage bank attempted to convince the current mortgage holder to do a short-sale, but they refused to take a penny less than what is currently owed, even though they would still be getting more than the original debt and wouldn't have had to spend tens of thousands of dollars on foreclosure proceedings. (Which is one of the reasons these inflexible sub-prime banks are killing themselves.)

I have compassion for my parent's situation, but it is their fault. My father was a realtor for 18 years and he should have known that the re-fi loan they were signing was shit. Plus, they were barely holding on even before my mother lost her job.

[Licker4U]

Originally Posted by Useless Warrior

The U.S. does have Social Security, but it doesn't amount to much and doesn't kick in until you apply for it at retirement age.

I fell off the roof of my house 5 yrs. ago, shattered my heel bone and had 3 surgeries in 9 months. In bed for months, on crutches a lot and couldn't even apply for disability until I had been disabled for a year. Wasn't thinking clearly and didn't sell my house and lost it in foreclosure. Even selling at a discount I could have pocketed a lot of equity but just wasn't thinking. I was able to get all my stuff out of the house and put in a self storage place until I can get another house. To leave that much stuff behind that was in the video some of those people must have been really broke.

[stuveltje]

Originally Posted by MadCat

Wait for this stuff to kick off in Holland as well though, given that Fortis had to get their asses bailed out to the tune of 4 billion, the AEX taking a plunge... shitty situation.

Morgage issues are here already going on for 3 years, alot of people lost their house, but all got help and ended without debts so they can start all over again, there is enough money in holland to help the banks, also the dutch goverment paid some money to help fortis, the rule here in holland is also, every person has a garantie (dont know if that is right written) that the money which they have on their bankaccound is insured for an amound of 20.000 euro, so if you have 15000 euro on your bankaccound and that bank will go broke, you still get your 15.000 euro back from our goverment, thats why most people who have alot of money use different banks. We pay all kind of taxes in holland, we have tons of insurrances, some we are forched to have by the goverment. Sure i know that this will hit europe also, hell its already going on, but i am not afraid that i will loose my money or so.We are just a small country.

[stuveltje]

Originally Posted by MadCat

Nope, the USA doesn't have WW, WAO, bijstand, etc. there's no social security at all, as far as I remember. So if your house gets taken, you're up that fabled creek without a paddle, because the only help you can get is either from friends or relatives willing to put you up until you get back on your feet.

Wait for this stuff to kick off in Holland as well though, given that Fortis had to get their asses bailed out to the tune of 4 billion, the AEX taking a plunge... shitty situation.

oh and i forgot to mention, WW, WAO, OAW and more of those things we have, those we pay ourself for, when you have a job at a boss, you are forched to pay an amound a month from your salary to pay for those things, and yep those things will give you money income again, for when you get hurt and you wont be able to work anymore, or your boss fired you or you have reach the old age, it are insurances, those are the forched things we dutchies are paying for, but for a reason, that has nothing to do with the thing which is going on now, for those things the goverment will pop in and have a couple of money pots for, i remember that time that the european goverment didnt like all those money reserves holland had, well they have them for an reason.